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Does Financial Innovation Drive Firm Value? The Mediating Role of Financial Performance in Indonesian Banking Mursidah Nurfadillah; Fenty Fauziah; Nidya Rudiani; Nur Hanisfatin Rushami Zien
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 8 No. 1 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v8i1.160

Abstract

Background: Financial innovation in Indonesian banking has evolved alongside changes in the banking system. While the adoption of Internet Banking (IB) services has been fast, bank value indicators, like Price-to-Book Value (PBV), have shown significant fluctuations, raising questions about whether financial innovation truly adds value. Objective: This study examines the impact of financial innovation on firm value and financial performance in Indonesian banks, and whether financial performance mediates this relationship. It views financial innovation not only through its financial outcomes but also as part of the broader technology-driven digital transformation in banking towards sustainability and resilience. Methods: The research was conducted by analyzing Secondary data from 13 banks listed on the Indonesia Stock Exchange (BEI) annual financial report data with the period of 2019–2024 which were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) technique. Results: Financial innovation directly affects firm value, but does not directly affect financial performance that can be used to significantly mediate the relationship between financial innovation and firm value. What this means is that, rather than an immediate profitability boost, the additional value to the firm from financial innovation is likely due to a long-term perspective of growth potential and viability. Conclusion: Market participants value innovation not just for short-term financial gains, but for its role in building resilience and long-term business models. While some innovations may offer short-term benefits, they remain a key strategy for enhancing firm value and building trust in the market over time.
Integrating Green Human Resource Management and Green Supply Chain: A Systematic Literature Review in The Context of The Manufacturing Industry in Indonesia Muh Idil; Istimaroh Istimaroh; Fenty Fauziah
International Journal of Educational Review, Law And Social Sciences (IJERLAS) Vol. 6 No. 1 (2026)
Publisher : CV. RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijerlas.v6i1.5289

Abstract

The manufacturing sector in Indonesia plays a critical role in national economic growth, contributing significantly to GDP. However, it is also a major contributor to environmental degradation through greenhouse gas emissions and industrial waste. Faced with this paradox, companies are required to undergo a sustainability transformation that is both technical and cultural. This research aims to map and synthesize existing literature on the integration of Green Human Resource Management (GHRM) and Green Supply Chain Management (GSCM) as key determinants of sustainable performance. Using the Systematic Literature Review (SLR) method with the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) protocol, this study examines relevant empirical articles to identify relationship mechanisms, methodological trends, and research gaps. The results of the review indicate that GHRM serves as the foundation for building employees’ green capabilities and culture, which are then operationalized through GSCM practices to achieve holistic sustainability performance. This article makes a theoretical contribution by clarifying the role of GSCM as a mediator within the Ability-Motivation-Opportunity (AMO) framework and offers a framework for industry managers to align human resource policies with operational strategies. By integrating GHRM and GSCM, companies can achieve better environmental, economic, and social performance, ultimately fostering long-term sustainability. This study also highlights the challenges faced by the Indonesian manufacturing industry in implementing these practices and provides recommendations for overcoming these barriers through employee-driven innovation and strategic alignment.
Pengaruh Profitabilitas Dan Penilaian Pasar Terhadap Dividen Payout Al Akmal Ishaq; Fenty Fauziah; Mursidah Nurfadilah
Mandiri : Jurnal Akuntansi dan Keuangan Vol. 5 No. 1 (2026): Februari - Mei 2026
Publisher : Lembaga Riset Ilmiah, Yayasan Mentari Meraki Asa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59086/jak.v5i1.1496

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas yang diukur dengan Return on Assets (ROA) dan penilaian pasar yang diukur dengan Price to Book Value (PBV) terhadap kebijakan dividen yang diukur melalui Dividend Payout (DP) pada perusahaan-perusahaan yang terdaftar dalam indeks LQ45 di Bursa Efek Indonesia. Penelitian ini menggunakan pendekatan kuantitatif dengan analisis regresi linier berganda pada 118 observasi dari laporan keuangan tahunan. Hasil penelitian menunjukkan bahwa ROA tidak berpengaruh signifikan terhadap Dividend Payout, yang mengindikasikan bahwa profitabilitas perusahaan, yang diukur dengan ROA, bukanlah faktor utama dalam keputusan pembagian dividen pada perusahaan yang terdaftar dalam LQ45. Sebaliknya, PBV memiliki pengaruh positif dan signifikan terhadap Dividend Payout, yang memperkuat Signalling Theory, di mana apresiasi pasar yang tinggi dapat mendorong perusahaan untuk memberikan dividen sebagai sinyal positif terkait prospek perusahaan di masa depan. Secara simultan, ROA dan PBV memiliki pengaruh signifikan terhadap kebijakan dividen, dengan kontribusi keduanya menjelaskan 6,2% variasi dalam Dividend Payout, sementara sisanya dipengaruhi oleh faktor eksternal yang tidak dianalisis dalam penelitian ini. Penelitian ini diharapkan memberikan kontribusi penting dalam memahami faktor-faktor yang memengaruhi kebijakan dividen di pasar modal Indonesia, terutama bagi manajer perusahaan dan investor dalam merumuskan kebijakan dividen yang lebih tepat.   This study aims to analyze the effect of profitability, measured by Return on Assets (ROA), and market valuation, measured by Price to Book Value (PBV), on dividend policy, measured through Dividend Payout (DP) for companies listed in the LQ45 index on the Indonesia Stock Exchange. A quantitative approach using multiple linear regression analysis was employed on 118 observations from annual financial reports. The results show that ROA does not have a significant effect on Dividend Payout, indicating that profitability, as measured by ROA, is not a primary factor in dividend distribution decisions for companies listed in the LQ45. In contrast, PBV has a positive and significant effect on Dividend Payout, supporting Signalling Theory, where high market appreciation encourages companies to pay dividends as a positive signal about their future prospects. Simultaneously, both ROA and PBV significantly affect dividend policy, with their combined contribution explaining 6.2% of the variation in Dividend Payout, while the remaining variation is influenced by external factors not analyzed in this study. This research is expected to provide valuable insights into the factors influencing dividend policy in the Indonesian capital market, particularly for company managers and investors in formulating more accurate dividend policies.
Analysis of the dynamics of interaction between profitability and liquidity using a predator-prey model approach Sri Wahyuni Jamal; Suparno Suparno; Fenty Fauziah; Umi Kartini Rashid; Azhar Latief
BISMA (Bisnis dan Manajemen) Vol. 16 No. 2 (2024)
Publisher : Universitas Negeri Surabaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/bisma.v16n2.p240-260

Abstract

Profitability and liquidity are among the critical issues that must be studied and considered by the management of every organisation as their foremost task. This research aims to analyse the bidirectional dynamics of profitability ratios and liquidity ratios over time. This research also aims to present forecasted values of profitability and liquidity for the next five years. The data used in this study are obtained from the food industry company’s annual reports for the period 2011-2022. This research adopts a predator-prey model containing a pair of non-linear differential equations to describe the interaction between two species. The results show that the predator-prey model can explain the bidirectional dynamics of profitability ratios and liquidity ratios with high accuracy. Besides, this study indicates that the type of relationship between profitability and liquidity is predator-prey. The forecasting results show that for 2023-2027, both profitability and liquidity tend to decrease. Based on the data, the company’s profitability and liquidity dynamics periodically fluctuate over time. This fluctuation indicates a positive sign for company’s profitability and liquidity are in good condition. In the future, company has to take preventive measures to continue stabilising its profitability and liquidity.
Digitalization and Work Environment on Employee Performance: The Mediating Role of Motivation at PT Bank KB Bukopin Tbk Samarinda Branch Fenty Fauziah; Eka Riyanti Yusuf; Wahyuni Wahyuni; Joko Sabtohadi; Ray Septianis Kartika
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 8 No. 2 (2026): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v8i2.320

Abstract

Background: Digital transformation has changed banking operations and employee roles. PT Bank KB Bukopin Tbk introduced the SHINE Project in 2023 as a digital transformation initiative through training and organizational restructuring to improve employee capabilities and performance. Objective: This study examines the influence of digital training and work environment on employee performance, with motivation as a mediating variable at PT Bank KB Bukopin Tbk Samarinda Branch. Methods: This explanatory quantitative study involved all 40 employees using a census sampling technique. Data were collected through questionnaires and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Results: Digitalization (β = 0.279, p = 0.018) and work environment (β = 0.750, p = 0.000) significantly influence motivation, while motivation significantly affects employee performance (β = 0.703, p = 0.010). Digitalization and work environment do not directly affect performance. Motivation fully mediates the relationship between work environment and performance (β = 0.527, p = 0.018), but does not significantly mediate the relationship between digitalization and performance (β = 0.196, p = 0.072). Conclusion: Employee performance during digital transformation is primarily enhanced through increased motivation supported by digital training and a positive work environment.
Co-Authors Ade Gunawan Al Akmal Ishaq Amalia Putri Norjannah Andini Nur Amilia Anshari, Rahman Arbansyah Arbansyah Askiah Askiah Awahda Dzahwa Kurnia Syafitri Azhar Latief Azi Nur Rahmasita Bambang Sutedjo Bambang Sutedjo Bun Yamin Bun Yamin Candra Hadi Utomo Cici Alya Sari Dea Angraini Putri Deni Malik Dyfa Saubea Eddy Kurniawan Eka Riyanti Yusuf Erwin Ady Surya Fahrul Zaini Fevica Dwi Anggreini Fitria Rahmah Fitriansyah Fitriansyah Fitriansyah Ika Ayu Mentari Ilmi Mu’min Musyrifin Istimaroh Istimaroh Istiqomah Istiqomah Iwan Sulistia Joko Sabtohadi Joko Sabtohadi Joko Sabtohadi Joko Widiarto Kafka Navisa Suwarno Karunia Auwliya Amin Kusumawati, Yulia Tri Landifa Kantana Erlian Susilo Lisa Agus Tina Marjan Wahyuni Marsha Anindita Marwati Muh Idil Muhammad Abdillah Musyaffa Muhammad Ali Syahbana Muhammad Fitriansyah Muhammad Harry Rahmadi Muhammad Iqbal Pribadi Muhammad Najeri Al Syahrin Muhammad Nor Ichsan Muhammad Rizky Alpyan Noor Muhammad Said Muhammad Said Mursidah Nurfadilah Mutia Jayanti Nadila Maulida Nidya Rudiani Ningsih, Indah Widyah Nita Rislawati Novila Rohma Nur Hanisfatin Rushami Zien Nur Zatil Fadilah Nurfadillah, Mursidah Oktaviani Dwi Saputri Paula Mariana Kustiawan Rafiqoh Rafiqoh Rahman Ansari Ray Septianis Kartika Regita Maulidya Putri Rika Nur Junnah Rika Pratika Rinda Sandayani Karhab Rolly Rezki Ananda Rusdi Rusdi Siti Hajar Yanti Siti Hardianti Siti Muti’Ah Siti Rosa Lismawati Sofia Ulfa Eka Hadiyanti, Sofia Ulfa Eka Sri Wahyuni Jamal Suparno Suparno Suparno Suparno Syayid Al Manar Tjokorda Gde Bagus Mahadewa Tri Munawwaroh Tria Apriyanto Umi Kartini Rashid Umi Kartini Rashid Vera Herliana Pratiwi Virda Putri Kumalasari Vita Pramaningsih Wahyuni Wahyuni Wicha Fradya Yustika Rahmah